Three things: China is winning from Gaza; China growing at 5 per cent now is better than China growing at 7 per cent a decade ago; and Australia’s biggest China lie is that we’re spending half a trillion dollars on boats to protect our sea lanes. The Gaza angle first. There is a regular pattern Continue reading »
Economy
The Australian All-Ords share price index rose 0.3% last week after falling 2.9% the week before. The index had been yo-yoing sideways since it escaped its three-year channel ceiling at the end of February 2024, but a fortnight ago had a big drop bringing it back within its previous channel ceiling. Read Percy Allan’s monthly Continue reading »
The UK’s Thames Water – infamous for pumping raw sewage into waterways – parent company has now defaulted on its debt. Why should the failure of a UK water company be of interest to Australia and Australians? First, because it illustrates the failure of many privatisations to improve service and performance. Second, because it is Continue reading »
It is sometimes said that America bombs while China builds. What’s the evidence, and where are the statistics? Let’s examine the origin and nature of the broad global footprints of America and China which are evident across the world today. The US grew to become a world-striding superpower over 100 years ago. Three hundred years Continue reading »
China’s economic policymaking over the past few decades is a fascinating example of adaptive planning and strategic foresight. From pivoting away from reliance on globalisation to emphasising domestic infrastructure and poverty alleviation, tilting towards the Belt and Road Initiative (BRI), and now focusing on “high-quality development” (simultaneously upscaling advanced manufacturing while deflating the property bubble), Continue reading »
The Ukrainians changed the face of modern warfare with inexpensive Chinese-made drones equipped with cheap Chinese-made cameras. These provide both battlefield intelligence and a platform for delivering destructive weapons. Interestingly, the Chinese did not interfere with these Ukrainian drone operations against China’s friend, Russia, despite the claims by Senator Patterson and others that Chinese kit Continue reading »
“There is a tide in the affairs of men. Which, taken at the flood, leads on to fortune” The tide – or maybe call it “the vibe” – is running in the direction of the Albanese government being pushed into changing its timid stance on negative gearing. Just as the eventual change to the stage-three Continue reading »
What the present moment reveals, once again, is that Western aggression during the “Cold War” was never about destroying socialism, as such. It was about destroying movements and governments in the periphery that sought economic sovereignty. Why? Because economic sovereignty in the periphery threatens capital accumulation in the core. This remains the primary objective of Continue reading »
The PM has announced a series of big-dollar programs to promote energy transition, “green” industries, local manufacturing and “critical” minerals. He is juggling themes that are not always consistent. The government needs to be prudent as it backs projects with taxpayers’ money. Mr Albanese seems to be walking about with a Venn diagram in his Continue reading »
In response to questions about starvation in Gaza and Sudan, a Federal Labor MP has explained, ‘In Australia, the cost of living is the issue. It’s voters’ major concern, and a political priority.’ As though quality of life is entirely affected by enough money to go shopping, politicians and economists’ emphasis on cost of living Continue reading »